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Litigation Capital Management Ltd shares fell on Tuesday as it responded to a press report to say that it has not been contacted by a Dubai legal authority. The Sydney-based asset manager and provider of dispute financing said it was responding to online speculation of a potential investigation against the company by a Dubai legal authority following a press article. Intelligence Online reported that the Dubai Public Prosecutor’s office has started a money laundering investigation into LCM and its Chief Executive Officer Patrick Moloney, related to a claim made in late 2022. Shares in LCM were down 9.0% to 52.80 pence in London on Tuesday afternoon. LCM said it has not been contacted by any legal authority, historically or recently, and does not believe that any allegation, were it to be made, ‘would have any merit whatsoever’. The company said it was investigating further and will update the market as appropriate. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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